Hyundai Motor Co. said he is in early talks with Apple has developed self-driving electric vehicles, sending its shares up to 24% to Seoul.
“Apple and Hyundai are under discussion, but as they are in the early stages, nothing has been decided,” the South Korean manufacturer said on Friday.
With development work still in its infancy, Apple will take at least half a decade to launch an autonomous electric vehicle, people with knowledge about the efforts told Bloomberg News. Hyundai accelerates push for new technologies such as driverless and flying electric cars, including $ 4 billion self-driving joint association.
Stock growth during the day from Hyundai in Seoul was the largest since 1988. A cable unit of Korea Economic Daily earlier reported talks with Apple. Hyundai has completed internal discussions on the project and is awaiting approval from
the President, according to the report.
Apple declined to comment.
– With the assistance of Mark Gurman
(Hyundai response updates starting with the first paragraph.)